LV= offers 5% income protection discount for the rest of 2010
LV=, the leading income protection provider, is offering a 5% discount on income protection for the rest of 2010. The discount will be effective across the board, and included automatically on all quotes from 2 October. This new discount is part of LV=’s ’top five’ talking points, an initiative designed to help advisers encourage clients to consider income protection, and to celebrate its recent 5 Star Defaqto rating.
Mark Jones, LV= head of protection, said: “We’ve had a strong year for IP sales so far in 2010, and we want to help continue this momentum. People often believe income protection will be more expensive than it is, so this discount is one of many good reasons for advisers to kick-start a conversation with their clients to think about this type of cover. Year-on-year we see income protection sales shrink, with providers fighting for market share rather than the market growing. While we understand it isn’t all about price, we want to try to help the market expand by finding ways to encourage more people to consider protecting their income, in this instance, by offering lower-cost access to a quality product.”
With LV= Income Protection, clients can change their cover when their lifestyle changes. This could include moving house, an increase in their mortgage, getting married / entering a civil partnership, having a baby or an increase in their salary. There is the option of guaranteed premiums on all cases, providing peace of mind over future affordability, no matter how many claims are made.
Clients will benefit from one of the most comprehensive income protection plans in the market, developed to be more straightforward to explain to clients, with no nasty surprises when claims are made. Additionally, ’Own occupation’ cover can be provided for many clients. This is the best definition of incapacity, paying out when they can’t do their own job, not ’any’ or any ’suited’ job.
If affordability is an issue, LV= offers a budget version if its income protection with a two year restricted claim period that means clients can still benefit from quality protection, but at a more affordable price.
Notes to Editors:
LV=’s income protection cover has achieved a coveted 5 Star rating from Defaqto, making it one of the best quality policies available in the market.
LV= is a registered trademark of Liverpool Victoria Friendly Society Limited (LVFS) and a trading style of the Liverpool Victoria group of companies.
LV= offer a range of insurance products including home insurance, car insurance , life insurance, pet insurance, critical illness cover and over 50 life insurance.
LV= employs around 4,000 people, serves over 3.8m customers and members, and manages around £9.5bn on their behalf. We are also the UK’s largest friendly society and a leading mutual financial services provider.
LVFS is authorised and regulated by the Financial Services Authority, register number 110035. LVFS is a member of the ABI, the AFM and ILAG. Registered address: County Gates, Bournemouth BH1 2NF. www.LV.com
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